Utah Rates by Credit Score
740 Credit Score Mortgage Rates in Utah
A 740 FICO in Utah is in the excellent range. Risk-based pricing adjustments shrink dramatically and rebate-rich pricing becomes available.
Conventional Loan Facts
- Down payment as low as 3% for first-time homebuyers, 5% for others
- Down payment assistance programs available to fully cover the 3% down payment
- Private Mortgage Insurance (PMI) required below 80% LTV - automatically removed at 78%
- Maximum DTI typically 45%, up to 50% with strong compensating factors
- Minimum credit score generally 620; best rates at 740+
- Available for primary residence, second home, or investment property
- No upfront mortgage insurance premium - only monthly PMI if applicable
Utah Housing Market for a 740 FICO Buyer
Utah's median home price is around $520,000. At 20% down, that's a $104,000 down payment and a $416,000 loan - well within the $200,000+ minimum for the Loan Factory $2,000 Best Price Guarantee. The pricer above is preset to this scenario.
Median home price
$520,000
Effective property tax rate
0.58% (≈$3,016/yr at median price)
Top metros
Salt Lake City, West Valley City, Provo
Frequently Asked Questions
What is the best mortgage rate for a 740 credit score in Utah?+
The pricer above returns live wholesale rates for a 740 FICO in Salt Lake City, Utah. A 740 FICO in Utah is in the excellent range. Risk-based pricing adjustments shrink dramatically and rebate-rich pricing becomes available. Use the tabs to switch between Conventional, FHA, and VA.
Can I get a Conventional loan in Utah with 740 FICO?+
Yes. 740 is comfortably above the 620 Conventional minimum in Utah.
Is FHA or Conventional better at 740 FICO in Salt Lake City?+
Usually Conventional at 740 FICO in Salt Lake City - the Conventional risk-based adjustments shrink at this score and you avoid upfront MIP.
What is the Utah loan limit at a 740 FICO?+
Loan limits in Utah are not driven by FICO - they are set by FHFA based on county home prices. The 2026 baseline conforming limit is $806,500. Some Utah counties exceed this up to $1,209,750. Your FICO affects rate and approval, not loan size.
Are mortgage rates for 740 FICO different in Utah vs other states?+
No - rates are uniform nationally. Lenders do not adjust mortgage pricing by state. Property taxes, insurance, and DPA programs differ, which affect total payment but not interest rate.
Is the $2,000 Best Price Guarantee available at 740 FICO in Utah?+
Yes. The Loan Factory $2,000 Best Price Guarantee is FICO-agnostic and covers qualifying Conv/FHA/VA loans of $200,000+ in Utah.
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Wholesale pricing, $0 origination, $2,000 guarantee on qualifying loans.
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